Mortgage Calculator
Calculate monthly payments, total interest, and view an amortization breakdown.
About Mortgage Calculator
Mortgage Calculator computes your monthly payment, total interest paid over the loan term, and shows a full amortization schedule breaking down each payment into principal and interest. Enter the home price, down payment, annual interest rate, and loan term.
Buying a home is the largest financial decision most people make. Understanding exactly how much interest you'll pay over 15 or 30 years — and how extra payments reduce that — empowers better decisions.
Includes an optional extra payment field to show how much you save by paying more than the minimum each month.
Features
- ✓Monthly payment calculation
- ✓Total interest over loan term
- ✓Full amortization schedule table
- ✓Extra payment impact analysis
- ✓Down payment as dollar amount or percentage
Common Use Cases
- →Estimating monthly payments before applying for a mortgage
- →Comparing 15-year vs 30-year loan terms
- →Calculating total interest cost of a mortgage
- →Understanding how extra payments reduce total interest
Frequently Asked Questions
Does this include property taxes and insurance?
No. This calculator covers principal and interest only. Add your estimated property tax and homeowner's insurance separately for a true total monthly cost.
What is an amortization schedule?
A month-by-month breakdown showing how each payment splits between reducing the loan principal and paying interest.